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Tourism

Tourism Industry in Australia

Tourism is one of the most exciting and progressive industries in Australia. Part of the visitor economy, tourism is also big business, and it impacts on almost every other industry. It makes a significant contribution to the overall level of economic activity and employment in Australia. The Australian tourism industry is on track to meet its aim of increasing visitor spending to between $115 billion and $140 billion by 2020.

Australia is the eighth largest tourism market in the world and is fast becoming a majordestination for business investment.Australia has a wealth of assets that differentiate it from other destinations around the world, including unique landscapes and nature-based tourism offerings; Indigenous culture and heritage; sophisticated cities and regions; and friendly, tolerant, culturally diverse population. Economic powerhouses in Asia, particularly China and India, are driving new wealth and consumption that can translate into huge demand for visitor experiences. The digital revolution will be fast-tracked in Australia, allowing tourism operators to better engage with customers and create new business opportunities.Located in the world’s strongest tourism region, and the largest global aviation market, Australia offers a secure and stable environment for tourism investors.

The key factor affecting the distribution of the tourism industry is each state’s share of the population. Other important factors include the state’s share of international visitors. New South Wales, Queensland and Victoria account for the largest shares of Australia’s tourism industry, together representing around 80 per cent of the industry’s output. However, the significance of tourism to the overall level of activity in each state and territory varies, with tourism accounting for the largest share of total output and employment in the Northern Territory, Tasmania and Queensland.

Keys to success:

  • Find ATO benchmarks at (https://www.ato.gov.au/Business/Small-business-benchmarks/In-detail/About/Small-business-benchmarks/)offer a broad database of small business benchmarks, which are a guide to help business compare their performance against similar businesses in the industry.
  • Offering an enjoyable, comfortable and informative travel excursions that will ensure that travellers are thoroughly satisfied and appreciative at the end of their trip;
  • A constant monitoring, reviewing and evaluating tourism performance and management strategies to ensure the long-term sustainability of tourism is influential to success;
  • Use of personal and informal networks within the industry to help gather information and improve knowledge about the industry is a smart way to break into the business;
  • Aggressive marketing campaign is a key success element in this industry as this helps to create service awareness and maintain a well-informed client network.